THE CALIFORNIA TIMBER TRADE. (To the Editors of the " Sydney Morning Herald.")

New Zealander, Volume 6, Issue 464, 25 September 1850, Page 3

THE CALIFORNIA TIMBER TRADE. (To the Editors of the " Sydney Morning Herald.")

Gentlemen ,— Though it is too late to prevent the disastsous loises which will attend the shipments of lumber from the Atlantic States, and from the British Colonies in that direction, m well at from those situated in these seas, yet it will not be not uninterest* ing to receire tome particulars connected with the subject. I will premise by stating 1 that had those who were here last November, instead of being led away by the high prices which then prevailed, paid a little attention to the subject, they might have at leait saved the Australian Colonies the tad losses which have for some time attended shipments of lumber of this market, and which must yet for months ensue upon arrivals. The information which could then have been obtained, was to the effect that the shipments which had been made, and were being made to this country from the eastern coast of America, from New Orleans to the Bay off Fundy, were immense. This was a (act which was open at that period to any inquirer. But the price of 850 dollars per thousand feet in November, Was adv»nced in December to 350 per mil., by the fire which occurred here at ihii period, and the consequence was, that the fact in question was disregarded, and timber sought at every spot on the coast at which it could be obtained of any description, no matter how worthless, from Valparaiso to the Colombia or Oregon River, including several places situated on the Bay of San Francisco. The following are the principle causes leading to the minous decline in price which commenced towards the end of January last, when it suddenly declined to 70 dollars per mil. First the population was erroneously over-estimated at fiom 200,000 to CUO.OOO. My enquiries lead me to believe that the population of Upper California at this moment does not exceed 200,000. It is the fashion now to state the weekly arrivals, by sea, here at 2000 per week, yet the published accounts of arrivals by sea, from the 15th April, to the 29th May inclusive, exhibit but 7087 souls at a total, or 1127 per week, from which 127 may safely be deducted as leaving this place weekly for the Atlantic Slates and other parts. Many would make a far greater deduction. This leaves the arrivals during the period in question, at 1000 per week, instead of 2000. Secondly, two-thirds, and perhaps three fourths of the Calif 'rnian popuhtion, are necessarily migratory, and therefore cannot occupy houses. The miners and those who supply their wants, ore never certain of remaining longer than a very brief period in the same spot, consequently tents universally prevail. When they take up winter quartern at the Diggings, some persons protect themielvei from the inclemency of the weather by erecting log huts, with the constructions of which with facility the American people are particularly well acquainted. Assuming the present popula* tion to be 200,000, Ido not think, on enquiry, it would be found that 70,000 were permanently housed. Thirdly, houses are erected in this countay, at present, with the smallest possible quantity ol material ; so slight are the buildings that an Englishman would doubt the safety of inhabiting the most of them. Or/ an average, I do not think that more than one-third Of the timber is used in a wooden building, that would be cousidered by the colonist necessary to construct a safe, prenianent, and comfortable houic. These are the principal causes of the demand being so infinitely much smaller than persons at a distance will have estimated it at. The following is rude attempt at estimating the stock here, and piobable importation. It was made on the 15th May, 1850. Feet. On shipboard, in harbour „ . 35,000,000 On shore „ tt tf „,,,,.. 5,000,000 40,000,000

To arrive, shipped for this port at Atlantic ports, previous to Ist January, 1850 20,000,000 To arrive, 50 vessels from the colonies and the coast , 5,000,000 65,000,000 Shipped at Boston from May Ist, 1850, to March 22nd 9,345,000 74,345,000 A New Orleans paper of 13th April, 1850 borrows, apparently from Troy and Albany (State oi '^New York) papers, a statement to the effect that the following quantity of lumber was ready to be tent down to iNew York, by the canals of that State, upon the breaking up of the winter— namely. , 00,000,000 134,345,000 There were shipped from Boiton, 14,254,000 feet in all 1849, and as above it appears in the first twelve weeks or this year, 9,345,000 feet have been shipped ; though only u small portion of the above 60,600,000 feet really in the State of New York may be shipped, yet as the news of the price having declined here to 70 dollars, with no hope of improvement, only reached New York on the 11th March lait, a quantity equivalent to the quantity in question may be expected, when wis bear in mind the uumerous places between New Orleans and the .Bay of Fundy, which will have made shipments between January and March, before the great decline in price had become generally known and adopted ; and I am entitled to entertain tuch an opinion from the eridence afforded by the shipments made at Boston in the early part of this year, and which I have already quoted. I have not hi yet been able to obtain any facts bearing upon the past, present, or future consumption, to warrant me in offering any estimate upon that important point. The purchasers of timber here will hardly take the hardwood of New South Wales at any prices, Ninetyfive Australian houses were lately told here for 1000 dollars, or about eleven dollars each. I think I am warranted in stating that the colonist may not at any future time look to this as a market for hardwood timber, but that there will be a market hereafter for certain sizes of Australian and New Zealand pine timbar. Though the timber trade between the Auitralian colonies and does not bid fair to be of that magnitude anticipated not long since, yet I have no doubt an important commercial connection will yet cntue. This would be greatly expedited and fostered if some British Bank would locate its principal branch in this country. At present no shipper from the colony cim obtain one shilling advance on his shipment. Yet why should not a, shipper to California obtain as* sistance, ts the wool or tallow shipper fiom the colonies to England does ? It is proverbial that our colonies are deficient in the means with which to take advantage of the trade of these seas. Such an instiu* tution is absolutely necessary here, and would, while it would be of invaluable assistance to the colonist in these teas, be enabled to establish an immease and enormously pi oh* table business at a Bank of deposit, discount, and exchange. The rate of intereit here is from three to ten per cent, per month, and the piofiti m shipment of gold dual, from three to five per cent. The Union Bank, for instance, ought to occupy this splendid field. It is deeply interested in the development of the resources of the Auitralian colonies, and has at its disposal in London, a surplus of capital for which it hai not been able to find employment in the colonies, amounting, I believe, to from £500,000 to £600,000. To what better purpose could this sum be devoted than to that which 1 have suggested ? I think the merchants of Sydney , Port Phillip, [Adelaide, Launceston, Hobait Town, Port Nicholson, and Auckland, would tind they had conttbuted to their own interests by addressing the Union Bank of Australia on this important subject. I remain, Gentlemen, Your obedient Servant, O, B. Ebswortii. San Fiancisco, 10th June, 1850.